Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Samas on track, but cautious

Wednesday 13 February 2008

Houten, 13 February 2008, before start of trading
Samas N.V. today provides a trading update on its performance in the third quarter of
the financial year 2007/2008 and on the progress made with regard to the earlier
announced study of strategic options.
Third quarter performance
Sales grew by 9% in the third quarter compared to the same period last year. The gross
margin remained roughly in line with the first half year of the financial year. The operating
result in this quarter, usually the quarter with the highest revenues given the seasonal-pattern,
amounted to 2 million positive, excluding non-operating items.
Samas’ top priority continues to be a return to profitability as soon as possible. Therefore, a
continued focus on optimization of day-to-day business and further simplification of the
business model remains of eminent importance.
Samas reached agreement with its banking syndicate on new covenants with regard to its
existing credit arrangements until March 2009. The inactive real estate in Freiburg (Germany)
was sold as planned for appr. 13 million which amount has been used to reduce the net
debt position.
Samas has restructured its Samas UK business according to plan, enabling the Samas UK
management to continue its operations independently as a Samas Partner. This new set up
was installed without any financial impact.
Study strategic options
As earlier announced, Samas is in the process of exploring various strategic alternatives
following its announcement on 31 October 2007. Given the limited financial flexibility and the
general economic environment this is a challenging process. The various alternatives within
the study of strategic options are all aimed at creating shareholder value in the long run.
Samas expects to complete this process in the second half of March.
Samas remains cautious for the operating result for the second half of the financial year
2007/2008 (ending 31 March 2008). It is currently anticipated that the operating result
excluding non-operating items in the fourth quarter will be below the third quarter and possibly
negative. Taking into account the general economic environment, it is too early to give an
indication of developments for the subsequent periods.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.



moreLatest News

Tuesday 20 February 2018 Steelcase survey reveals informal space trend

A recent study by office furniture vendor Steelcase has shed some light on what people really want f

Thursday 15 February 2018 Haworth 2017 sales surpass $2B

HOLLAND, MI - Haworth, Inc. had a good 2017. The Holland office furniture-maker reported sales of

Monday 12 February 2018 Knoll Q4 furniture sales recover

Knoll’s expansion into new product lines has paid off for the office furniture maker, as Q4 sales

Friday 9 February 2018 Austrian Office Furniture Manufacturer Svoboda files for bankruptcy

The Austrian office furniture specialist Svoboda has filed for bankruptcy. In spite of this, the cur

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England

+44 (0) 20 7688 1928